Raymond James restated their hold rating on shares of Callaway Golf (NYSE:ELY) in a research note published on Wednesday.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reiterated a buy rating and set a $27.00 price target on shares of Callaway Golf in a research note on Thursday, September 27th. Jefferies Financial Group reiterated a buy rating and set a $26.00 price target on shares of Callaway Golf in a research note on Monday, October 29th. B. Riley set a $30.00 price target on shares of Callaway Golf and gave the stock a buy rating in a research note on Sunday. ValuEngine cut Callaway Golf from a buy rating to a hold rating in a report on Wednesday, November 21st. Finally, Cowen lifted their price objective on Callaway Golf from $21.00 to $24.00 and gave the company a hold rating in a report on Friday, September 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $23.91.

ELY opened at $16.53 on Wednesday. Callaway Golf has a fifty-two week low of $13.49 and a fifty-two week high of $24.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.28. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 0.64 and a beta of 1.03.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.09. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%. The firm had revenue of $262.65 million for the quarter, compared to the consensus estimate of $250.83 million. On average, sell-side analysts anticipate that Callaway Golf will post 1.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, November 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. Callaway Golf’s payout ratio is presently 7.55%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Callaway Golf by 0.8% in the first quarter. Principal Financial Group Inc. now owns 775,442 shares of the company’s stock valued at $12,686,000 after buying an additional 6,479 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Callaway Golf in the second quarter valued at about $468,000. TD Asset Management Inc. bought a new position in shares of Callaway Golf in the second quarter valued at about $3,885,000. Comerica Bank raised its holdings in shares of Callaway Golf by 39.7% in the second quarter. Comerica Bank now owns 140,742 shares of the company’s stock valued at $2,643,000 after buying an additional 40,007 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Callaway Golf by 8.0% in the second quarter. Wells Fargo & Company MN now owns 1,440,229 shares of the company’s stock valued at $27,321,000 after buying an additional 106,277 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

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Analyst Recommendations for Callaway Golf (NYSE:ELY)

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